The local council – which has owned the freehold for the scheme since its construction in 1992 – recently acquired the long leasehold ownership of the centre from British Land.
Tunbridge Wells said the purchase of the asset had cross-party support, adding that is committed to ensuring the scheme continues to play a strong role in maintaining the town’s attractiveness for residents, employers, and visitors.
Asset management firm RivingtonHark was appointed to advise on strategic decisions.
The 475,000 sq ft scheme comprises 99 units and is anchored by Fenwick and M&S. The centre underwent an £11m refurbishment in 2020 and had an occupancy rate of 86.4% in the second quarter of 2023.